lmfx Guide – Read our In-Depth lmfx Review
lmfx Rating: 4.85 / 10
Our proprietary rating algorithm takes all of our datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones.
This lmfx review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this lmfx review does not apply to users in BR, KR, IR, IQ, SY, JP, US
If you are a new entrant in the world of trading and broker, so many details will be confusing for you. Getting into the world of trading requires expert assessing skills and thorough understanding. You will acquire proficient at all of the concepts of broker since you continue trading. For starters, you have to choose the ideal broker who'll be clear with you constantly.
In this fast-paced universe of stock markets and trading, you will need advice to make proper decisions. A professionally direct investment program will create hefty returns. lmfx is just one such stage which will take you along with your investment into great heights. It is important to understand all about lmfx before you trust them with your cash.
lmfx Guide – Quick Summary
|lmfx Telephone Number:|
|lmfx Email Address:|
|Regulated By:||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271|
|Number Of Clients:||10,000+ lmfx users and traders|
|lmfx Facebook Likes:||0|
|lmfx Twitter Followers:||0|
|lmfx Instagram Followers:||0|
Your capital is at risk
Our entire lmfx Review covers all you need to know about trading using lmfx. A good agent can multiply your initial investments and give you positive profits. If you would like to earn profits, you must trade with a broker service that aligns with your investment objectives.
There's absolutely no sure-fire way to ensure profits; thus, you should carefully analyze your agent before you select them. It is a frequent misconception that all brokers are exactly the same, but that is not correct. Wrong judgment, in the beginning, can put your investments at risk.
lmfx is a broker which has paved its way successfully to the brokerage world. In this review, we have tried to collate a number of the vital facets of lmfx. This review will help you to understand whether lmfx is a good match for your investments or not. We have tried to breakdown all the features and fees for your advantage.
lmfx Review, Table Of Contents
- Who are lmfx?
- Benefits Of Trading With lmfx
- Everything you should know about trading with lmfx
- Is lmfx Safe To Trade With?
- Pro's & Con's Of Trading With lmfx?
- Compare Brokers Similar To lmfx
- Regulation And Licencing In More Detail
- lmfx Awards
- Minimum Deposit Required For A Live Account With lmfx
- lmfx Commission And Fees Explained
- Compare broker fees against lmfx
- lmfx Withdrawal Fees Explained
- lmfx Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With lmfx?
- Alternatives To lmfx
- Frequently Asked Questions About lmfx
Who are lmfx?
lmfx is a foreign exchange broker headquartered in Anguilla and provides a range of tools for trading. Since its inception in 2016, lmfx has emerged as a top player in the industry of online broker. lmfx has an extremely competitive and full-featured trading website that is focused on currency, indices, metals, stocks , commodities.
Over the past 5 years, lmfx has grown into one of the leading online brokers.
After establishing in 2016, their client base is becoming as big as 10,000+ clients.
lmfx is the favorite for many dealers because of its negative balance protection. Our lmfx review found that they are an excellent alternative for automated trading solutions. It's most appropriate for investors that are searching for a variety of assets. Social and automated trading solutions are the heart at lmfx.
Technology plays a significant role in lmfx. lmfx features trading on MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps. lmfx is honest, transparent, and also a well-regulated broker by the Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271. Their outstanding array of tools will be beneficial for the majority of traders. Third-party partnerships also provide in-house analysis.
The educational section at lmfx is very enlightening for new dealers since it allows them to get a closer look at the financial markets. lmfx caters to all sorts of traders and are a must-have broker for almost any well-diversified approach to online trading.
If you feel that lmfx is not right for you then at the bottom of this lmfx review you wil find a lot of alternatives to lmfx.
Everything you ought to know about trading with lmfx
lmfx is a lively platform that offers various procedures of trading online. These instruments cover the monetary markets substantially. Most of the brokerage platforms provide less procedures than lmfx
If you wish to trade with lmfx, you will need a minimum deposit of $250. This deposit is mandatory if you wish to begin trading using lmfx. This 2021 lmfx review will guide you clearly about trading with them.
lmfx is as flexible as another brokerage platform. lmfx is great for traders who want a manageable array of low-cost services. The platforms supplied by lmfx are third-party, white-label offerings. All traders may select from MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps.
Together with everything, lmfx has multiple benefits to new and verteran traders and should be investigated. There's no minimum time on which a transaction has to be kept available. The brokers offer premium client service which rewards customers with advantages.
Many unethical brokers try to pressurise consumers into bigger financing for superior services. lmfx, on the other hand, is much more concentrated on trading volume. Traders can expect trading conditions to be fair, honest and transparent. The more lots traded by the consumer, the further advantages will become available.
lmfx accounts are available globally and provides quality service everywhere they have clients. There are only a select few countries where lmfx accounts are not available. Traders in the following countries cannot open or use a lmfx account:
BR, KR, IR, IQ, SY, JP, US
Is lmfx Safe To Trade With?
Established in 2016, lmfx has been open for 5 years, they have a head office in Anguilla.
lmfx is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271. These figures have rules that mandate that trading platforms have steps in place to maintain investor's assets procured. This means that lmfx users don't need to worry about their money as it is segregated and safely kept in established banks. SSL encryption simplifies each user's personal information also.
You are able to make use of an option for 2 Factor Authentications (2FA) with lmfx for increased security. An SMS for the confirmation code will be sent to your phone. You will be required to enter this code to log in to your account.
Another concern with fiscal brokers with regards to safety may be manipulation of trading. This is highly disadvantageous to users on those platforms. However, this is much more widespread in the case of Market Maker brokers who compete with customers on the stage.
Pro's & Con's Of Trading With lmfx
Every online trading platform will have a few pros and cons lmfx review would be complete without having a balanced approach. This lmfx review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- lmfx is trusted by 10,000+ clients
- lmfx offers Negative Balance Protection
- lmfx doesn't charge withdrawal fees
- lmfx doesn't charge inactivity fees
- lmfx doesn't charge deposit fees
- lmfx doesn't charge CFD fees
- lmfx offer trading on MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps
- lmfx offer 154 trading instruments
- lmfx trades major forex pairs
- lmfx trades minor forex pairs
- lmfx trades exotic forex pairs
- lmfx offers trading on cryptocurrencies
- lmfx can communicate in English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic
- lmfx does not offer Guaranteed Stop Loss
lmfx Review - Compare Brokers Similar To lmfx
|lmfx||ForexTB||CIM Banque||Go Markets|
|Rating||4.85 / 10||4.58 / 10||6.13 / 10||6.06 / 10|
|Regulated By||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271||Cyprus Securities and Exchange Commission (CySEC), CIF license number 272/15||Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), Securities Investor Protection Corporation (SIPC)||Australian Securities and Investment Commission (ASIC)|
|Find Out More|
|Risk Warning||Your capital is at risk||CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.80% of retail investor||Your capital is at risk||Losses can exceed deposits|
lmfx Review - Regulation And Licencing In More Detail
lmfx is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271.
lmfx, as a business, has a powerful set of rules for ensuring fair trading onto its own platform. For information encryption functions, it supplies an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, customer data is never to be shared with some other institutions or individuals. This includes credit history and other financial details.
lmfx Review - Awards
- At the time of writing this lmfx review, they had not received any awards.
lmfx Trading Platforms
lmfx are a professional brokerage that has been operating for over 5 years. They offer a wide range of options in their client accounts.
Below we take the main parts of any reputable online trading platform and compare lmfx against ForexTB, CIM Banque, and Go Markets
lmfx Review - Minimum Deposit Required
The minimum deposit you need to begin on lmfx is $250. This is a decent amount for people just beginning. You can create more complex deposits as you cooperate. But, make certain that you know how to make the most of your cash before investing in larger sums.
lmfx Review - Commission And Fees Explained
lmfx is an online broker platform, and most online brokerages charge lower fees than traditional brokerages tend to bill. The reason for this is that the companies of online brokerages are scaled better. That is, an online broker is not necessarily influenced by the number of clients they have.
But this doesn't necessarily mean that online brokers don't charge any fees. They charge fees of varying rates for a variety of services to make money. There are mainly 3 types of penalties for this objective.
The first kind of fees to keep an eye out for are trading fees. When you make an actual trade, like purchasing a stock or an ETF, you are billed trading fees. In such cases, you're paying a spread, funding rate, or even a commission. The kinds of trading charges and the prices differ from broker to broker.
Commissions can be fixed or determined by the traded quantity. On the other hand, a spread denotes the gap between the buying and selling price. Financing or overnight rates are those that are billed when you maintain a leveraged position for longer than a day.
Apart from trading charges, online agents also charge non-trading fees. These are dependent on the activities you undertake on your account. They're billed for services like depositing cash, not investing for lengthy periods, or withdrawals.
In general, lmfx doesn't charge high fees in comparison to other online brokers. For operations other brokers charge for, they either do not charge a broker fee, or they charge a smaller amount. This is beneficial for people who regularly trade, for example daily or weekly trading.
However, non-trading fees billed by lmfx are comparatively greater. As a result, you're billed more for non-trading actions on your trading accounts, like withdrawal and deposits. These aren't related to the purchase and sale of resources.
This lmfx review breaks down every one of the relevant non-trading charges for you in detail.
Compare broker fees against lmfx
lmfx Review - Withdrawal Fees Explainedlmfx doesn't charge withdrawal fees
Withdrawal of money is possible at any moment from your lmfx account. It's possible to draw sums up to the sum of your account balance, keeping aside the margin used. One thing to remember is that you don't necessarily need to have any cash on your account.
In addition, the withdrawn money will be moved directly to the accounts you use to create deposits. Thus, in the event that you used a credit card for deposits, the withdrawn money will be sent to the card. lmfx will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you are withdrawing cash in various currencies from USD, a conversion fee is also important. The conversion fee will depend on the money you're choosing to draw in.
lmfx Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of those buzzing questions that run through your mind when open an account with lmfx. An inactivity fee is an amount charged to registered dealers who haven't engaged in buying or selling for some time. The period considered inactive is determined by the broker.
The inactivity fee differs from one agent to another and is not generalized. If a traders account does not have a purchasing or selling trade, it's claimed by the broker as an inactivity fee. The traders have to pay this fee under conditions and terms they had consented while registering.
lmfx doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no charges have been implied by lmfx, it's best that you close the account if you are inactive. Inactivity fees aren't just charged by brokerage companies but also many financial services.
For other trading platforms, the inactivity fee is contingent on the sort of account you have selected. The inactivity fee is exposed to many circumstances and should be revealed clearly by the broker beforehand.
lmfx Review - Deposit Fees Explained
When you transfer money in your trading account from the bank account, a deposit fee can be billed by the broker. Most agents do not charge too much money for this particular operation.
lmfx doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing money on the lmfx trading platform is simple. You just have to finish a single-user profile questionnaire to start depositing money into your trading account. You will need to provide an identity evidence and evidence of residency to deposit substantial sums.
lmfx Review - Compare Broker Deposit Methods
What Can You Trade With lmfx?
Note: lmfx offers a lot of different trading instruments due to regulatory restrictions in various countries. Trading instruments offered will differ based on the country of residence of the client.
lmfx has a wide variety of over 154 instruments available for you to trade with.
If trading currency pairs is of interest to you then lmfx offer over 124 currency pairs.
Compare lmfx, ForexTB, CIM Banque & Go Markets below.
Alternatives To lmfx
If, after studying this lmfx review, they do not fulfill your requirements check out these lmfx alternatives.
We have scoured the internet to find the best alternatives to lmfx. Click the hyperlinks below to find out more.
Frequently Asked Questions about lmfx
Can I try lmfx before I buy?
Yes, you can most certainly try lmfx before you buy. lmfx provides demo accounts for the convenience of beginner traders. You may use this feature to build your faith in the system and yourself and your trading strategies.
If you sign up to get a demo account on lmfx, you may set out with a decent amount of virtual currency. It is to establish a sense of safety and confidence in you before you decide to spend your own money.
With this virtual lmfxdemo account, you are able to experiment in any way, to whatever length you desire. You might even start positions, test different trading approaches, and much more.
lmfx specifies on its official website that you can exchange real time stocks in a demo account.
Is lmfx safe?
It is possible to drop all your worries because we believe that lmfx is completely safe to use. It's in compliance with all the rules of Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271.
Even so, lmfx doesn't provide assured stop-loss protection.
Why does lmfx ask for my passport?
The reason that lmfx asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, lmfx has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, lmfx must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with lmfx?
The process to start trading withlmfx is perhaps simple enough to be a cakewalk. You need to begin by signing up on the lmfx website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with lmfx is $250. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with lmfx.
The best way to kickstart your trading career with lmfx is to open a demo account facility before risking any real money
What funding methods do lmfx accept?
There are multiple ways to fund your account with lmfx. The process is effortless and quick, with different payment methods in your fingertips.
You can use credit or debit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing funds. You have to keep in mind that PayPal isn't available in all country. The currencies lmfx
Is my money safe with lmfx?
Yes, your money is safe and protected with lmfx. As you already know, lmfx operates with good conformation to. It's established lots of steps to protect all its investors.
lmfx protects its clients' private and sensitive information under SSL encryption. Your funds will be retained highly secure in top-tier banks.
If you want to further protect your accounts, you can enable Two-Step Verification as well. It requires an SMS confirmation that you access your accounts.
Is lmfx trading good?
Yes, trading through lmfx is a nice and decent experience indeed. It's an excellent and intuitive platform with helpful features for your simplicity. Moreover, you could also obtain access to a huge collection of educational tools and assistive material to kickstart your trading expertise.
If you remain skeptical, it is possible to start a eToro demo account and assess the trustworthiness of the platform on your own.
Which Countries does lmfx support?
lmfx operates around the globe. However, due to regulations there are some countries that lmfx does not accept clients resident in BR, KR, IR, IQ, SY, JP, US
Is lmfx legit?
lmfx is a legit company headquarted in Anguilla since 2016. They are regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271. lmfx is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is lmfx a good broker?
lmfx is a great broker, and its users can vouch for this. The highlight of the platform is its fast order execution on transactions.
You will discover the clean design of the platform and the admirable features a pleasure to work with.
Is lmfx a trustworthy broker?
Yes, lmfx is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for lmfx?
The minimum deposit to open a live account with lmfx is $250
How long do lmfx withdrawals take?
Normally, withdrawal of money from lmfx is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from lmfx to show in your bank account.
Are lmfx regulated?
lmfx are regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271
Is lmfx a market leading broker?
lmfx is indisputably among the industry leaders. It supports over 10,000+ registered customers and over 5 years of experience on its own record. They are one of the world's leading trading platforms and a dominant figure in the Fintech revolution.
It simplifies this status to its incredible platform and broad range of resources plus tools so that you may invest in capital markets.
Is lmfx a con?
No, lmfx is not a con. They are regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271 and must adhere to their rules. Thus, it is safe to say that lmfx is not a scam.
Can you make money with lmfx?
Using lmfx, many traders earn a lot of cash. However, typically, through consistent trading, you also can make between 2% - 10% profit a month.
This may seem to be a small number, but over the year, this adds to a significant amount of gains. While lmfx provide you all the tools to make money, they cannot guarantee you will gain.
Does lmfx have fees?
Yes. To start trading with lmfx, you have to deposit $250. Particular commissions while trading additionally apply. Any processing fees from your bank might have to be incurred by you.
When was lmfx founded?
lmfx was founded in 2016 in Anguilla. lmfx is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F271.
How many people use lmfx?
lmfx is a worldwide recognised agent with 10,000+ customers.
Where is the lmfx head office?
lmfx has its head office in Anguilla
Does lmfx offer negative balance protection?
Yes, lmfx has Negative Balance Protection. It is specially offered when the market volatility prevents clients from letting their accounts go in the red. In such a scenario, lmfx provides the ability to reset a clients account balance to zero.
You can go through the critical stipulations on lmfx's website to comprehend their policies better.
Does lmfx offer guaranteed stop loss?lmfx regrettably, doesn't offer guaranteed stop loss. lmfx gives a chance for its traders to close their trade in their specified price. Apart from this, lmfx does not offer guaranteed stop loss.
Does lmfx allow scalping?Yes, lmfx do allow scalping. Several traders across the world select lmfx due to their scalping services. They offer trading on MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps which let this.
Does lmfx allow hedging?
Yes, lmfx does allow hedging.
Can you trade energies with lmfx?
Yes, you can trade energy stocks with lmfx
Can you trade agricultural shares with lmfx?
No, unfortunately you cannot trade agricultural stock with lmfx
Can you trade cryptocurrency with lmfx?
Yes, you can trade cryptocurrency with lmfx
Can you trade metals with lmfx?
Yes, you can trade metals with lmfx
Can you trade UK Shares with lmfx?
No, unfortunately you cannot trade UK shares with lmfx
Can you trade US Shares with lmfx?
No, unfortunately you cannot trade US shares with lmfx
Can you trade Japanese Shares with lmfx?
No, unfortunately you cannot trade Japanese shares with lmfx
Can you trade German Shares with lmfx?
No, unfortunately you cannot trade German shares with lmfx
Does lmfx accept bank transfers?
Yes, lmfx accepts bank transfers for depositing money.
Does lmfx accept credit cards?
Yes, lmfx accepts credit cards for depositing money.
Does lmfx accept PayPal?
Yes, lmfx accepts PayPal for depositing money.
Does lmfx accept Skrill?
Yes, lmfx accepts Skrill for depositing money.
Does lmfx accept Payoneer?
Yes, lmfx accepts Payoneer for depositing money.
Does lmfx accept Neteller?
Yes, lmfx accepts Neteller for depositing money.
Does lmfx offer Live Chat customer support?
No, lmfx does not offer customer support through live chat.
Does lmfx offer phone customer support?
No, lmfx does not offer customer support over the telephone.
Does lmfx offer email customer support?
No, lmfx does not offer customer support through email.
What languages can lmfx communicate in?
lmfx has the ability to communicate and support customers who speak: English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic
Does lmfx have a wikipedia page?
No, lmfx does not have an official wikipedia page.
Does lmfx offer demo accounts?
Yes, lmfx offers demo accounts so you can learn their systems before risking any real money.